Proposed Provision: Beginning in 2012, reconfigure the special minimum benefit: (a) A year of coverage is defined as a year in which 4 quarters of coverage are earned. (b) At implementation, set the PIA for 30 years of coverage equal to 125 percent of the monthly poverty level (about $1,128 in 2010). For those with under 30 years of coverage, the PIA per year of coverage over 10 years is $1,128/20 = $56.40. (c) Index the initial PIA per year of coverage by wage growth for successive cohorts.

OASDI Trust Fund Ratio
(assets as a percentage of annual expenditures)

Year Present Law Provision
2011353353
2012347347
2013341340
2014334333
2015328327
2016321320
2017314312
2018306303
2019296293
2020284281
2021272268
2022259254
2023245239
2024230224
2025214208
2026198191
2027181173
2028164155
2029145136
2030127116
203110796
20328775
20336754
20344632
20352510
20364-13
2037-18-36
2038-40-59
2039-62-82
2040-85-106
2041-108-130
2042-130-154
2043-153-178
2044-176-203
2045-200-227
2046-223-252
2047-247-277
2048-271-303
2049-295-328
2050-319-354
2051-343-380
2052-368-406
2053-393-432
2054-418-459
2055-443-486
2056-468-513
2057-494-541
2058-521-569
2059-548-597
2060-575-626
2061-602-656
2062-630-686
2063-659-716
2064-687-746
2065-716-777
2066-746-808
2067-775-839
2068-805-871
2069-835-903
2070-866-936
2071-897-969
2072-928-1002
2073-960-1035
2074-992-1070
2075-1025-1104
2076-1058-1140
2077-1092-1176
2078-1126-1212
2079-1161-1249
2080-1196-1286
2081-1232-1324
2082-1268-1362
2083-1305-1401
2084-1342-1441
2085-1380-1481
2086-1419-1521
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